Global Markets:
- Asian Stock Markets : Nikkei up 0.73%, Shanghai Composite down 0.44%, Hang Seng down 0.20%, ASX up 0.86%
- Commodities : Gold at $1227.80 (0.00%), Silver at $14.50 (0.00%), Brent Oil at $63.14 (0.00%), WTI Oil at $54.41 (0.00%)
- Rates : US 10-year yield at 3.065, UK 10-year yield at 1.389, Germany 10-year yield at 0.370
News & Data:
- (USD) Crude Oil Inventories 4.9M vs 2.5M expected
- (USD) Revised UoM Consumer Sentiment 97.5 vs 98.4 expected
- (USD) Durable Goods Orders m/m -4.40% vs -2.20% expected
- (USD) Core Durable Goods Orders m/m 0.10% vs 0.40% expected
- (GBP) Public Sector Net Borrowing 8.0B vs 5.6B expected
- Japan Oct CPI Gain Unchanged; BOJ Still Cautious
- UK PM Reiterated Commitment To Agreeing Deal That Works For Whole UK
Markets Update:
Asian shares seesawed in cautious trading on Thursday with China extending losses as investors fretted about slowing global growth in the face of rising U.S. interest rates and trade tensions. The bitter Sino-U.S. trade war remains the biggest concern for markets, with signs of weakening corporate profits, steep sell-off in tech stocks and rising U.S. interest rates encouraging investors to take money off the table before year-end.
China's markets have been closely watched by investors as a result of the ongoing trade spat between Beijing and Washington, with an anticipated meeting between Presidents Xi Jinping and Donald Trump at the upcoming G-20 meeting in Buenos Aires from Nov. 30 to Dec. 1.
The Shanghai composite was down by 0.44 percent while the Shenzhen composite slipped 0.27 percent. Japan's Nikkei 225 returned to positive trade in the afternoon, seeing gains of nearly 0.7 percent while the Topix advanced 0.6 percent. Data showed the country’s core consumer prices jumped 1.0% in October from a year earlier, steady from the last month. Down under, Australia’s ASX 200 gained 0.86%.
The dollar index was last off slightly at 96.64 while the yen inched higher to 112.99 following two straight sessions of losses. the euro rose on hopes that the Italian budget dispute would be resolved even as the European Commission took its first step toward disciplining Italy over its deficit. Oil reversed early gains although prices were still well above one-year lows touched earlier this week.
Upcoming Events:
- 01:30 PM GMT – (EUR) ECB Monetary Policy Meeting Accounts
- 03:45 PM GMT – (CAD) Gov Council Member Wilkins Speaks
- 09:55 PM GMT – (GBP) MPC Member Saunders Speaks
